Stop Loss: Rs 1,216
It is forming higher top higher bottom formation from last four trading session even after the weakness in the broader market. It had witnessed a correction from Rs 1300 to 1173 and is now moving after negating the negativity of previous two week. It managed to cross its 50 DMA and registered highest daily close of last nine trading sessions. Thus recommending the traders to buy the stock with the stop loss Rs 1216 for the upside immediate target of Rs 1300 levels.
Target: Rs 830
Stop Loss: Rs 775
the stock has been consolidating in a range from last 8 weeks and has managed to hold the support base at Rs 775-780 zones. It is not ready to give up even after sustain supply at higher levels which clearly indicates strength in the counter. It is defensive as well as a strong counter which is continuously holding the support from last couple of trading sessions. We are recommending buying the stock with the strict stop loss of Rs 775 for the upside target of Rs 830 levels.
Target: Rs 230
Stop Loss: Rs 247
It has been falling from last 4 weeks and has broken and closed below its immediate support of Rs 240 zones. It has been witnessing liquidation of long position followed by fresh short position. According to its recent price behavior weakness may continue in the stock. Thus recommending to sell the stock with the stop loss of Rs 247 for the downside target of Rs 230 levels.
Target: Rs 91.50
Stop Loss: 100.50
the stock failed to cross the immediate hurdle of Rs 120 levels and started to decline with built up of short and liquidation of long position. It has been making lower highs lower lows from last three weeks. It has dull price behavior and witnesses selling pressure at every small bounce back. We are expecting this behavior to continue which may drag it to 91.50 and lower levels. So, one can sell the stock with the stop loss of Rs 100.50 for the downside target of Rs 91.50 levels.
: We are suggesting all these stocks to our clients but no personal holdings
Chandan Taparia is a technical analyst with Anand Rathi Retail Research